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OpenStudy (anonymous):
A company invests $15,000.00 in an account that compounds interest annually. After two years, the account is worth $16,099.44. Use the function, where r is the annual interest rate, P is the principal, and A is the amount of money after t years. What is the interest rate of the account? 1.04% 3.6% 5.4% 7.3%
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